Dynasil Corporation of America, a developer of sensing, detection, and analysis technology for homeland security, medical and industrial applications, today reported financial results for fiscal year ended September 30, 2011.
Revenue for fiscal 2011 increased to $47.0 million compared with $43.0 million in fiscal 2010.
Dynasil is headquartered in Watertown.
Net income for the 12 months ended September 30, 2011 was $1.4 million, compared with $3.2 million in fiscal 2010. The company said that the lower net income in the 2011 period resulted from higher selling, general and administrative expenses, and increased investment in corporate growth initiatives, partially offset by Research & Experimentation (R&E) Tax Credits.
“Dynasil delivered 9 percent revenue growth in 2011, with gains in both business segments despite a challenging economic environment,’’ said Steven Ruggieri, the company’s president and chief executive officer. “Our Contract Research segment grew $1.8 million, or nearly 8 percent, from fiscal 2010, reflecting robust business with key federal customers including the U.S. Department of Homeland Security and the U.S. Department of Energy. Our Products & Technology segment grew more than $2 million, or 11 percent, from the year-earlier period, primarily as a result of our acquisition of Hilger Crystals in the fourth quarter of fiscal 2010.’’